Colombia pipeline plans $400 million bond sale

Oleoducto Central, owner of Colombia’s largest pipeline, is planning to sell about $400 million in dollar-denominated bonds this year to finance expansion plans, majority stakeholder Ecopetrol said.

The bonds will likely mature in seven to 10 years and the sale will take place in the second or third quarter, Camilo Marulanda, head of Ecopetrol’s Cenit infrastructure subsidiary, said.

“We are currently finishing the authorization process with the Finance Ministry, we think it’s an issuance that could be very interesting for the market," Marulanda said.

Source: Bloomberg